Porto announce Villas-Boas resignation

Andre Villas-Boas has tendered his resignation as Porto coach and his contract will be terminated when the release clause is paid, the club have announced in a statement to the Portuguese Securities Market Commission.

Chelsea have earmarked the 33-year-old as their number one choice to replace Carlo Ancelotti but Porto insisted yesterday no club had met the €15m release clause in his contract.

The statement read: "FC Porto was today notified of the intention of Andre Villas-Boas to resign from his contract with the club by triggering the release clause immediately.

“The contract will be terminated once the required amount is paid.”

Villas-Boas guided the Dragons to the domestic double and Europa League success last season.

And he is no stranger to Chelsea, having worked there under Jose Mourinho.

The Lusa news agency reported this morning that Villas-Boas had terminated his deal at the Estadio do Dragao by paying the release clause himself.

Villas-Boas guided the Dragons to the domestic double and Europa League success last season.

And he is no stranger to Chelsea, having worked there under Jose Mourinho.

Villas-Boas, who was reportedly also on Inter Milan's wanted list, would dramatically increase his salary with a move back to Chelsea, with reports suggesting as much as €4.4m-a-year is on offer.

If Villas-Boas does succeed Ancelotti one of his first signings could be to bring Porto’s star striker Falcao to Stamford Bridge along with him, the £25m-rated Colombian having impressed as the Dragons won the Europa League final at Dublin’s Aviva Stadium, where the 25-year-old netted the only goal against Braga.